1149 Folsom Street, San Francisco, CA 94103

Property Description

1149-1151 Folsom Street is a freestanding, single-tenant bar/nightclub building in the heart of San Francisco's Western SoMa entertainment corridor. The 3,620 SF two-story building sits on a 2,250 SF lot at the corner of Hallam Street, between 7th and 8th Streets, and is 100% leased to a bar/nightclub operator in place since 2004 at $11,000 per month ($132,000 annually) under a lease running through March 31, 2028. At the asking price of $2,150,000 ($594/SF) the in-place income produces a 5.57% cap rate and a 16.3 GRM. The property is zoned Folsom Street NCT (Neighborhood Commercial Transit) with a 65-X height limit and shares the block with the Bloodhound, The Stud, Cat Club and F8, with I-80 / US-101 access two blocks south.